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Performance of Hotels in Europe in October

New data is available from STR Global. This time it concerns performance of European hotels on previous month. Despite some negative forecasts and caused by the economic situation in the region, demand remain steady, helping to maintain occupancy and room rates. Some cities feature high declines comparing to the same month of the previous year, but this is the result of large events that took place in these cities a year ago. For example, hotels in Cardiff (the UK) were very profitable during last year’s October due to the Ryder Cup, and hotels in Stockholm (Sweden) had large growth in occupancy due to a medical congress. Another medical congress and Anuga trade fair made hotels in Cologne to enjoy the increase in RevPAR level of 20%.

Hotels in Venice, Italy, show really great results. In October occupancy reached 85.2 percent, showing the rise of 12 percent. The situation with hotels in Manchester (UK) is almost the same – the occupancy of 82.9 percent and the rise in occupancy during October of 9.4 percent. The biggest declines in occupancy in October were in hotels in Tel Aviv (Israel) (-22.6 percent in October to 70.7 percent in total), hotels in Malmo (Sweden) (- 14.7 percent during the previous month and 59.8 percent in total), and Athens, Greece, (-12.8 percent in October and 60.5 percent in total).

The best markets in terms of ADR increase are Stockholm, Cologne, and Lisbon. Here ADR level enhanced by 23-18%. This is a very good result. Cardiff is the worst market from this point. Finally, here are the stats for RevPAR level. Here the leaders – Venice, Stockholm, and Cologne. Hotels in Gothenburg and Cardiff show biggest declines in this figure.

29.11.2011

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